WASHINGTON--(EON: Enhanced Online News)--Cohen Milstein Sellers & Toll PLLC is conducting an investigation to
determine whether ProNAi Therapeutics Inc. (“ProNAi” or the “Company”)
and certain of its officers and directors made false and misleading
statements and/or omissions in violation of Sections 10(b) and 20(a) of
the Securities Exchange Act of 1934 or committed violations of or
committed violations of Sections 11 and 15 of the Securities Act of 1933.

Class action lawsuits were filed in the U.S. District Court for the
Southern District of New York and the California Superior Court by other
law firms on behalf of purchasers of the common stock of ProNAi
Therapeutics Inc. (NASDAQ: DNAI) between July 15, 2015 and June 6, 2016,
inclusive (the “Class Period”), including those who purchased shares
pursuant or traceable to the Company’s July 15, 2015 initial public
offering of 8.1 million shares at $17.00 per share (“IPO”).

ProNAi’s lead product candidate is PNT2258—designed to target BCL2, a
widely overexpressed oncogene linked to many forms of cancer. The
complaints allege that ProNAi and certain of its officers and directors
(“Defendants”) misrepresented and/or failed to disclose that: (1) two
trials of PNT2258, the Wolverine and Brighton Phase 2 trials, would fail
to prove the efficacy and safety of PNT2258 by failing to meet primary
or secondary endpoints; and (2) because the Phase 2 trials were
structured as open-label studies, ProNAi management was aware that the
Wolverine study was underperforming and that patients were discontinuing
participation in the Brighton study in alarming rates.

Prior to the beginning of the Class Period, ProNAi completed a Phase 1
safety trial and a Pilot Phase 2 open-label trial of PNT2258. The
positive results of these trials lead ProNAi to initiate two separate
Phase 2 clinical trials for different treatment populations. In December
2014, the Company initiated the Wolverine trial, an open-label 60
patient trial for the treatment of third-line relapsed or refractory
diffuse large B-cell lymphoma. In October 2015, the Company initiated
Brighton, an open-label 50 patient Phase 2 trial for the treatment of
Richter’s transformed chronic lymphocytic leukemia. Both of these trials
were ongoing during the Class Period.

On December 15, 2015, ProNAi announced that director Dr. Peter Thompson
would resign from the Board of Directors and the Audit Committee
effective that day. The following month, on January 26, 2016, ProNAi
announced the resignation of its Chief Scientific Officer, Wendi
Rodrigueza, effective February 25. On March 18, ProNAi announced the
resignation of director Dr. Alvin Vitangcol, effective that day, and the
decision of director Dr. Albert Chang to step down after the Company’s
2016 annual stockholders meeting. On May 2, 2016, ProNAi announced that
Chief Medical Officer, Dr. Richard Messmann, notified the Company of his
decision to resign on April 26, 2016.

On June 6, 2016, ProNAi issued a press release announcing interim data
for the Wolverine trial. Based on these results, the Company announced
that PNT2258 failed to produce sufficient efficacy results to justify
its continued clinical development. In addition, ProNAi announced that 4
of the 5 patients enrolled in Brighton had already discontinued
treatment. Due to underwhelming results in both trials, the Company said
it was suspending all clinical development of PNT2258. The price of
ProNAi stock fell from $6.38 on June 3, 2016 to $2.07 on June 6, 2016.

Cohen Milstein encourages all investors who purchased ProNAi common
stock pursuant or traceable to the IPO, and/or between July 15, 2015 and
June 6, 2016; or former employees with information concerning this
matter to contact the firm.

If you are a ProNAi shareholder and would like to discuss your right to
recover for your economic loss, you may, without any cost or obligation,
call Cohen Milstein’s Managing Partner, Steven J. Toll at (888) 240-0775
or (202) 408-4600, or email him at stoll@cohenmilstein.com.
If you wish to serve as lead plaintiff, you must move the Court no later
than January 9, 2017, to request appointment. Any member of the proposed
class may retain Cohen Milstein or other attorneys to serve as your
counsel in this action, or you may do nothing and remain an absent class
member.

Cohen Milstein has significant experience in prosecuting investor class
actions and actions involving securities fraud, and is active in major
litigation pending in federal and state courts throughout the nation.
Cohen Milstein has taken a lead role in numerous important cases on
behalf of defrauded investors, and has been responsible for a number of
outstanding recoveries which, in the aggregate, total over two billion
dollars. Prior results do not guarantee a similar outcome. For more
information visit www.cohenmilstein.com.

If you have any questions about this notice or the action, or with
regard to your rights, please contact either of the following:

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